The Greater Risk Can Be Not Doing Something That Really Excites You

Latest posts by Jeff Williams (see all)

I read a lot of material every month on how the Boomers are approaching the period of life after age 50.

And what I’m seeing reported in virtually every major newspaper and magazine is that more and more Leading Edge Boomers are showing a willingness to take a calculated financial risk with some of their retirement savings in order to launch a business or nonprofit that’s built around work they really enjoy doing…and in some cases have been yearning to do for years.

The latest example of major media coverage of this topic is an op-ed column in the August 13, 2007 issue of Time magazine (page 54).

The author, Dan Kadlec, starts by saying: “Money experts warn it’s a bad idea” to use some of one’s retirement savings to start a new venture.

But Dan also reports that about a third of self-employed people over 50 didn’t strike out on their own until after age 50.

So, there are a whole lot of experienced, talented, smart people who are carefully considering how to utilize a bit of their retirement savings to achieve true satisfaction in their work by bringing to life their long-thought-about business or non-profit venture.

The real food for thought in Dan’s piece comes at the end, where he says: “If you overdo things, you’ll risk your financial security. So be careful. But remember there are other risks in play too, like the risk of losing your sense of purpose and missing the chance to do something that excites you”.

Total
0
Shares
Previous Article

Create a Successful Selling Formula For Your 50+ Business

Next Article

Just When You Thought It Was Safe to Enter the Blogosphere...

Related Posts
home-based businesses
Read More

The Value of Home-Based Businesses to Economic Recovery

The challenge of America’s economic recovery, in the wake of the COVID-19 pandemic, is to spread it to every community – and especially those that have been historically excluded. The key to meeting that challenge is to appreciate the civic and economic value of an overlooked resource: home-based businesses. There are about 16 million home-based...
Bartesian
Read More

A Q&A with Ryan Close of Bartesian: Creating and Marketing a Game Changer

Bartesian started as a dream for Ryan Close. But in just a few years, his cocktail company had 975% year-over-year growth and more than $50 million in sales. The business is a media darling and has been featured in such publications as Forbes, Esquire, People and others. And not just every product lands on Oprah's...
entrepreneur
Read More

Don’t Quit and Other Lessons from a Wantrepreneur Turned Entrepreneur

I’ve tried many businesses and side hustles over the past 15 years. I’ve mowed lawns, was a DJ at weddings, negotiated real estate deals, started an e-commerce business, and many others. Some of those endeavors made me money, but others didn’t. Now I have a successful digital marketing agency. People often ask me how I...
payroll loan
Read More

The Best Business Loans to Help with Payroll

When faced with the unexpected, coming up with the capital needed to pay employees on time can be challenging. While it’s important to budget and allocate cash accordingly, financial challenges and unplanned costs are common for all businesses. The good news is, there are a variety of small business lending options that can provide you...